Financial position and utilization of critical energy infrastructure assets remain robust CALGARY, Alberta - TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced net income attributable to common shares for second quarter 2020 of $1.3 billion or $1.36 per share compared to net income of $1.1 billion or $1.21 per share for the same period in 2019. For the six months ended June 30, 2020, net income attributable to common shares was $2.4 billion or $2.59 per share [Read more]
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AltaGas announces second quarter results
AltaGas continues to execute on defined strategy and delivers resilient second quarter results with guidance reaffirmed; remains focused on maintaining safe and reliable operations for its employees, customers and the communities it serves. CALGARY, AB - AltaGas Ltd. (AltaGas or the Company) (TSX: ALA) today reported second quarter 2020 financial results and provided an update on its operations and outlook, inclusive of COVID-19 considerations. "Although the second quarter included large [Read more]
TC Energy announces US$0.4 billion Elwood Power/ANR Horsepower Replacement Project
CALGARY, Alberta - News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) announced today that it will proceed with the Elwood Power/ANR Horsepower Replacement Project that will replace, upgrade and modernize certain facilities along a highly utilized section of its ANR Pipeline Company (ANR) natural gas transmission system. Under a long-term agreement, ANR would provide up to 125,000 Dth/d of firm transportation service to an existing power plant. “The facilities are designed to [Read more]
Tourmaline announces strong operating and financial results for Q2 2020 with significant free cash flow
CALGARY, AB - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to release operating and financial results for the second quarter (Q2) of 2020. HIGHLIGHTS Q2 2020 cash flow(1) was $225.2 million ($0.83/diluted share) on Q2 EP capital spending of $95.6 million. Q2 2020 delivered significant free cash flow(2) of $121.3 million ($0.45/diluted share). Q2 2020 production averaged 299,369 boepd within guidance range of 295,000 – 300,000 boepd and up 7% over Q2 [Read more]
Athabasca Oil Corporation announces Q2 2020 results
CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reported its operating and consolidated financial results for the three months ended June 30, 2020. The second quarter was defined by unprecedented moves in commodity prices due to the COVID-19 pandemic and resulting oil demand destruction. Athabasca responded swiftly to mitigate the impact of these unexpected events. The Company entered 2020 with a strong liquidity position allowing it to withstand the [Read more]
Baytex announces second quarter 2020 financial and operating results
CALGARY, Alberta - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three and six months ended June 30, 2020 (all amounts are in Canadian dollars unless otherwise noted). “During the second quarter we took decisive steps to adjust our business model in the face of extremely volatile crude oil markets. We are now starting to benefit from the actions we have taken as we generated positive free cash flow during the quarter and maintained [Read more]
Yangarra announces 2020 second quarter financial and operating results
CALGARY, AB - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX: YGR) announces its financial and operating results for the three and six months ended June 30, 2020. Second Quarter Highlights Average production of 9,875 boe/d (44% liquids) during the quarter, a 24% decrease from the same period in 2019 Oil and gas sales were $16.2 million, a decrease of 56% from the same period in 2019 Funds flow from operations of $7.7 million ($0.09 per share – basic), a decrease of [Read more]
TORC Oil & Gas Ltd. announces second quarter 2020 financial & operational results; reinstates production guidance
CALGARY, AB - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce its financial and operating results for the three and six months ended June 30, 2020. The associated management's discussion and analysis ("MD&A") and unaudited interim financial statements as at and for the three and six months ended June 30, 2020 can be found at www.sedar.com and www.torcoil.com. Highlights Three months ended Six months [Read more]
Prolonged oil industry slump leads to third cut in Canadian drilling forecast
CALGARY - The Petroleum Services Association of Canada is cutting its 2020 Canadian drilling forecast for a third time as the industry remains mired in a slump expected to extend well into the second half of the year. The association says it now expects just 2,800 wells will be drilled in Canada this year, down from a nearly 50-year low of 3,100 in its revised forecast in April. The new forecast for 2020 is 43 per cent lower than the 4,900 wells drilled in 2019. PSAC interim CEO [Read more]
Once Canada’s oil relief valve, rail shipping grinds to near halt
After moving record-large Canadian oil volumes by rail just five months ago, shippers have hit the brakes, idling thousands of cars and tens of millions of dollars' worth of infrastructure. Rail was Canada's oil lifeline in recent years when cheaper pipelines ran full and crude had no other exit from landlocked Alberta. But oil production cuts this year opened pipeline space and eliminated demand for trains, leaving producers like Cenovus Energy Inc with high fixed expenses and monthly [Read more]